On February 24, the Australian and New Zealand governments announced new sanctions against Russia, coinciding with the third anniversary of the full-scale invasion of Ukraine. These measures arrive shortly after the European Union approved its 16th package of sanctions, solidifying international efforts to hold Russia accountable for its aggression.
The Australian government intensified its response with its most extensive sanctions package since the onset of the war, targeting 70 individuals and 79 organizations directly linked to Russia. According to the government's statement, these sanctions particularly focus on Russian government officials and those involved in enhancing collaboration between Russia and North Korea—an ally supplying artillery and thousands of soldiers to support Moscow's efforts against Ukraine.
Since the beginning of Russia's full-scale invasion, Australia has imposed more than 1,400 sanctions and provided over 1.5 billion Australian dollars (approximately $960 million) to aid Ukraine. The New Zealand government mirrored Australia's commitment by announcing sanctions against 52 individuals and entities connected to Russia's military-industrial complex, its energy sector, and North Korean support for Russia's war machinery, as stated by New Zealand Foreign Minister Winston Peters.
The sanctions list includes high-ranking officials from several Russian regions, leaders of military manufacturing enterprises, and commanders of military units. New Zealand also added restrictions on local NGOs and charitable foundations linked to the war. To bolster humanitarian efforts, New Zealand has also committed an extra 3 million New Zealand dollars (around $1.7 million) to the World Bank-administered Ukraine Relief Fund.
Meanwhile, Thailand has emerged as an unexpected hub for Russia's procurement of machine and computer parts potentially for military use. Local firms have reportedly been facilitating Russia's attempts to bypass Western export controls aimed at crippling its war efforts. Following the invasion, the United States sanctioned seven local companies for exporting high-priority items to Russia—including dual-use goods like ball bearings and microchips needed for military applications.
A remarkable spike was noted in these exports from Thailand, growing from $8.3 million in 2022 to $98.7 million by 2023—over 1,000%. A report from S&P Global highlighted Thailand's sharp rise as the country with the most significant increase of high-priority exports to Russia.
Experts note the constant fluctuation of trade routes involved. Byron McKinney from S&P Global emphasized how, when sanctions are put up, supply chains adapt—“like water in a stream”—flowing through alternative paths if one is dammed.
Many high-priority items are now transshipping through Thailand, primarily due to its relatively lenient regulations compared to other locations. The U.S. Treasury and Commerce Departments have placed export controls on goods deemed necessary for sustaining the conflict.
Thailand has maintained warm economic and diplomatic ties with Russia during this period. Former Prime Minister Srettha Thavisin has been quoted praising this relationship, and when Prime Minister Paetongtarn Shinawatra took office, he continued promoting ties with Russia. Similar sentiments were echoed by the president of the Thai-Russian Chamber of Commerce, who noted the economic opportunities for Thailand created by Western sanctions on Moscow.
While Western countries like Japan, Singapore, South Korea, and Taiwan have enacted sanctions against Russia, Thailand remains less affected, reflecting its neutral stance on the geopolitical conflict. Ian Storey, from the ISEAS-Yusof Ishak Institute, cast doubt on immediate action from Thai authorities to curb the trade of dual-use goods, particularly with changing U.S. diplomatic approaches under the Trump administration.